I read a lot of material on forex trading systems and the great copy offering me huge profits for $100 or so, sounds great!
Then when I come to buy the system I look for one thing and one thing only to see if it’s worth me parting with my money.
Its obvious but most forex system buyers don’t think to ask the obvious its:
The real time audited track record from the vendor.
After all if they make claims about how great their system is shouldn’t they be trading it and shouldn’t they have some proof it makes money?
Of course they should!
In most cases however with forex trading systems all you get is a hypothetical track record at best, or a load of vague claims without substantiation.
A hypothetical track record means absolutely nothing.
Let’s define exactly what this means:
It means the person had all the closing data in hindsight and can simply make the profit and loss whatever they want it to be.
You never see one that loses money.
Let’s face it, if we are doing a track record knowing the closing prices anyone can make money as they know what the prices did.
My 10 year old boy can do that!
There are some good forex trading systems out there and the best way to get one that is reputable is to get a trader who puts his money where his mouth is and trades his own system.
Would you take driving lessons from someone who had not driven before?
Of course you wouldn’t!
Use the same rule in trading if the vendor doesn’t have the confidence to trade his own system why should you?
Don’t fall for the hype
Fact is, there are many forex trading systems sold by vendors without track records and they know their systems don’t work and that’s why they don’t trade.
Of course, they make money from greedy and foolish people who fall for the copy.
Vendor wins you lose – Simple.
People will say the fact that a froex trading system just because it has made money in the past does not mean it will make money in the future and of course this is true, but I Like the fact the person selling at least has shown profit and has the confidence to trade.
My view is never trade a system without a real time track record of at least two years.
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